Money Scams

There are numerous money scams used abroad to trick tourists and expats out of their hard earned cash. Let’s look at a few that you should be aware of so that you won’t fall victim to them.

Counterfeit currency - A street vendor will approach you and offer a much better exchange rate than hotels and banks. However, the money he provides you will be counterfeit and worthless. Remember, if the deal is too good to be true, then it probably is just that.

Currency examinations - During this scam a person posing as a police offer will approach you and demand to “inspect” your money because of recent counterfeiting problems. When you give the “police officer” the money, he quickly flees the area.

Maid Scam - The maid, gardener, or other domestic employees will tell you that they have to leave work early because of a medical emergency. The next day they will tell you a story about how a family member was tragically injured during an accident or has severe health problems. They will then ask you for a loan. Once you do so, the employee is never seen again.

Charity scam - A person will approach you on the street claiming to be sponsoring a charity for children, mentally ill persons, or women’s assistance groups. The criminal will attempt to play on your emotions and ask for a donation. Unfortunately, these groups in need of help never see the money.

Canadian Lottery Scam - This involves a call to usually a senior citizen who is informed that they have just won a prize from the Canadian government. The victim is then told to wire a "customs fee" to an account and the prize money will later be deposited in their bank. Unfortunately, after victims send the money, no deposit is made.

Cabaret Scam - Often used in Eastern Europe or Russia, foreigners enter a cabaret and drink for hours only to discover that they have been charged astronomical prices for alcoholic beverages. In some cases victims were charged $200 for a glass of cheap vodka. Sometimes this scam involves the assistance of corrupt taxi drivers who are paid by the cabaret owners to lure tourists to these clubs.

These are of few common scams that you should be aware of while in a foreign country. So, be careful and don’t get scammed out of your hard earned money.

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